When a system breaks down and is replaced by another untried one, the consequences reverberate through an Economy like a grass fire. Confidence in the market performing steadily has been eroded since the onslaught of the Global Financial Crisis (GFC). This lack of confidence is a major catalyst for a wealthy Australia having it tough in some quarters of its economy. Strangely, but not surprising, the section of the population that is having it tough these days are the very people whom we consider wealthy!!! The ones who don't derive a personal benefit from Government and are being done no favours by our Financial Institutions!!!
This is the class of people that once upon a time used to believe in free enterprise, initiative and working over the period of a lifetime to achieve, maintain and then protect their accumulated wealth in order to outlast it through their retirement years. These days they are meeting a wall of opposition if they don't take up the created wealth plan of a self managed superannuation fund. This generally provides for its owner and the vultures that regulate the protected fund. Did I say protected? Sorry, only in the short term I suspect... Time will tell when these funds will be found vanished in thin air! Then it'll be too late to complain about an inability to live off a no longer existing super fund facility!
One good result has been the ability of Government to determine that a tax on the super that you hold will be withdrawn each year. When there is nothing else to feed off, then any Government will have no choice but to impose an impost on these savings!!! After all the Government enticed you to enter into its wealth net in the first place... and when the savings mature... then it's time to pay back! The friends of Governments are the very efficient Institutions that control much of our modern lifestyle in our super controlled society. These are large Corporations that employ a small army of people. However these Institutions are generally a law unto themselves once they are set up. In the past Institutions were driven by a love for the people that they served.
Today's Institutions no longer have their customers' needs as a priority. Yes, each Institution looks after itself. It determines how much needs to be drawn from its pool of customers to maintain the executive arm of its body, from the General Manager to the last foot soldier, and then keeps on charging accordingly. If the customer fails to maintain its contract, then more money is made from late fees, more fines if the late fee is not paid and so on. A customer is not even considered if the latter complains or wants some form of satisfaction. The Institution has the full force of the law on its side. You, the customer, can of course, occasionally, take the Institution on and win... But this is generally a Phyrric victory... a victory that is more of a loss than a real win. It is unlikely that a compensation or fine will be imposed on the Institution... unless you succeed in that unlikely win against the institution's wrong doing.
Institutions are neutral in themselves... It is their officers who become arrogant and dictatorial as they acquire more power within the Institution that they serve. Don't get me wrong: you will occasionally meet a'softie' occasionally and, usually, when the Institution realizes that it got some policy wrong and they allocate a time frame for making amends. However in the majority, these Institutions are not that friendly and nice... on the surface...usually... but not when you want them to do something for you in a time of need. Let's face it, the Institution or Big Business organisation or even a Government Department often behaves in order to further its own interests... like a small business or even like you and me. Can we blame them if they succeed in keeping their power and influence through a particular service to the public? After all each Big Institution needs smart and competent managers to protect its organisation.
So where is my complaint? This complaint is directed at the lack of empathy towards customers who are genuinely wrong or have made a human error... Why is so much institutional angst directed at the very people that these institutions are supposed to serve? Why the build up of unreasonable rules and regulations in order to punish ordinary customers who have their own life to manage? I'll give you some examples... Bank fees, inflexible serviceability factors in lending circles, an electricity company that will give you a discount of $100 if you pay on time, a policeman who is on a power trip fining you for a number plate that's a little faded and apart from the fine you also lose 3 demerit points, a parking fine if you are a few minutes out, a telephone company that sneakily charges huge fees for data that is spammed to your phone. You can add your own personal examples to show the continual hassle with everyday life challenges in a modern city that's becoming increasingly difficult to live in.
Unfortunately, Institutions, Big Business, Public Organizations in all areas of human activity are necessary for the good running of our modern life. Whether these entities are good or bad depends on the managerial class and all those involved in making these work. Rules ad regulations need to be put in place... but we must ask our governments to be vigilant about the abuses of power, the exercise of incompetence, the real possibility of corruption along the very real need for renewal and change as needed.
It's not easy being a law abiding citizen when those who exercises authority are not the role models for our own individual ethics and behaviour. We must not forget that confidence in our Economy depends on people being encouraged to manage their affairs with a feeling of consistency and trust in their Institutions.
